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AI Market Size Statistics (2025-2032)

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by Fabio Duarte
Last Updated: October 10, 2025

Artificial intelligence (AI) is far from new. However, the emergence of AI chatbots like ChatGPT and Bard has thrust AI into the limelight.

As such, the AI market is booming and continues to grow year-over-year.

Below, we’ll focus on the growing AI market, taking a look at projected valuation and regional differences, among other aspects.

Contents

AI Industry Statistics (Top Picks)

  • The global AI market is worth almost $300 billion.
  • The AI market is set to hit $1.77 trillion by 2032.
  • The North American AI market is worth over $51 billion.
  • AI healthcare is set to grow 17x over the course of this decade.
  • 88% of financial service companies increased revenue thanks to AI adoption.

AI Market Size

According to the latest available data, the global AI market is worth approximately $294.16 billion.

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That figure is up from 2024's $233.46 billion.

Source: Fortune Business Insights

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AI Market Growth Projections

By 2032, the AI market is predicted to reach $1.77 trillion.  

That’s almost 6x more than 2025’s figure of $294.16 billion.

Source: Fortune Business Insights

AI Market Growth Over Time

Between 2024 and 2032, the global AI market is expected to grow at a CAGR of 29.2%.

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Here’s a detailed look at the AI market’s valuation from 2021 to 2032:

Year

Market Size

Change Over Previous Year

2024

$233.46 billion

-

2025

$294.16 billion

↑ $60.7 billion

2026

$380.05 billion

↑ $85.89 billion

2027

$491.03 billion

↑ $110.98 billion

2028

$634.41 billion

↑ $143.97 billion

2029

$819.66 billion

↑ $185.25 billion

2030

$1.06 trillion

↑ $240.34 billion

2031

$1.37 trillion

↑ $310 billion

2032

$1.77 trillion

↑ $400 billion

Source: Fortune Business Insights

Growth Drivers in the AI Space

Continuous investment in AI has fueled rapid technological advancements in recent years. AI has penetrated many industries, including:

  • Healthcare
  • Automotive
  • Financial Services
  • Retail and Consumer
  • Communications
  • Entertainment
  • Manufacturing
  • Energy
  • Transport and Logistics

AI’s versatility is perhaps its biggest pro. From behind-the-scenes algorithms to end-user integration, AI is fast becoming a staple across virtually every industry.

Source: PrecedenceResearch

Key Players in the AI Space

  • Intel Corporation (US)
  • Microsoft (US)
  • IBM (US)
  • Google (US)
  • Amazon Web Services (US)
  • Baidu (China)
  • NVIDIA Corporation (US)
  • H2O.ai (US)
  • Lifegraph (Israel)
  • Sensely (US)
  • Enlitic (US)
  • AiCure (US)
  • HyperVerge (US)
  • Arm Limited (UK)
  • Clarifai (US)
  • Advanced Micro Devices (US)
  • Atomwise (US)
  • Enlitic (US)
  • Iris.ai (Norway)
  • Zebra Medical Vision (Israel)
  • OpenAI (US)
  • Midjourney (US)

Sources: Precedence Research, Grand View Research

AI Market Geographic Breakdown

As of 2025, the North American AI market is valued at $51.58 billion.

graphic stating North American AI market value

Asia-Pacific is the next-largest AI market with a valuation of $32.89 billion, followed by Europe with $26.54 billion.

Here’s a breakdown of the regional AI market growth between 2018 and 2025:

Year

North America

Asia-Pacific

Europe

Latin America

Middle East and Africa

2018

4.11 billion

2.72 billion

2.09 billion

0.35 billion

0.24 billion

2019*

6.36 billion

4.15 billion

3.27 billion

0.55 billion

0.37 billion

2020*

9.8 billion

6.31 billion

5.05 billion

0.86 billion

0.56 billion

2021*

15.08 billion

9.73 billion

7.84 billion

1.34 billion

0.87 billion

2022*

22.23 billion

14.25 billion

11.52 billion

1.96 billion

1.31 billion

2023*

30.9 billion

19.59 billion

15.94 billion

2.73 billion

1.78 billion

2024*

41.06 billion

26.15 billion

21.17 billion

3.64 billion

2.39 billion

2025*

51.58 billion

32.89 billion

26.54 billion

4.57 billion

3.03 billion

Source: Tractica

AI Growth By Segment

Here’s how AI is growing across various key industries:

Healthcare

In 2023, the AI healthcare market was worth an estimated $20.65 billion.

As of 2025, this figure stands at almost double that ($38.66 billion).

And in the space of a decade, AI healthcare is predicted to reach a valuation of over $187 billion – around 17x 2021’s figure.

Here's how AI healthcare's market size has changed over time:

Year

Market Size

2021

$11.06 billion

2022*

$15.1 billion

2023*

$20.65 billion

2024*

$28.24 billion

2025*

$38.66 billion

2026*

$52.97 billion

2027*

$72.62 billion

2028*

$99.63 billion

2029*

$136.66 billion

2030*

$187.95 billion

Chips

The AI chips market has quadrupled in value since 2021 ($10.8 billion), reaching $44.3 billion in 2025.

By 2028, it is predicted to have skyrocketed to $127.8 billion – around 12x growth in 7 years.

Here is how the AI chips market has changed over time:

Year

Market Size

2021

$10.8 billion

2022*

$15.8 billion

2023*

$21.9 billion

2024*

$31.1 billion

2025*

$44.3 billion

2026*

$63.1 billion

2027*

$89.8 billion

2028*

$127.8 billion

Finance

In the finance industry, AI has already contributed to significant revenue increases.

bar chart showing the impact of AI on the financial services industry

More than one-third (34%) of finance institutions reported revenue increases of over 20%.

While 51% of finance companies have increased revenue by at least 10% thanks to AI.

In total, 88% of finance firms saw revenue increases since the incorporation of AI:

Revenue Increase

Percentage of Applicable Financial Service Institutions 

More than 20%

34%

Between 10% and 20%

17%

Between 5% and 10%

20%

Less than 5%

16%

No impact

12%

Sources: Precedence Research, Stratview Research, Nvidia

Key Takeaways

AI is currently transforming virtually every industry imaginable. 

Consequently, its projected industry value is set to take off over the coming years.

For more related content, take a look at Top AI Trends and Amazing Artificial Intelligence Statistics.

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Written By

Fabio Duarte

Research Associate

Fabio is a research associate at Exploding Topics. Since 2021, Fabio has researched, written, and edited articles for the Explo... Read more